Pet Circle Raises Growth Equity Investment from lead investor Francisco Partners and existing investor AirTree Ventures
Press Releases — Nov 14, 2017
Sydney- Pet Circle, the fast-growing e-commerce provider of pet food, accessories and supplies in Australia, today announced a growth equity investment. Global private equity firm Francisco Partners led the financing, which includes participation from existing investor AirTree Ventures. The investment and expertise this growth funding provides will help Pet Circle further disrupt the $10.2B Australian pet industry.
Launched six years ago, Pet Circle home-delivers pet food, accessories and more to pet parents of dogs, cats, birds, fish and small animals all over Australia, with much more competitive pricing than a traditional retail store. With a curated selection of more than 6,000 products across premier local and global brands on its website, www.petcircle.com.au, Pet Circle offers customers unmatched choice, reliable and fast shipping, and outstanding customer service supported by pet experts and qualified veterinarians.
“Traditional pet retail is antiquated and inconvenient; having to drive to the pet store, pick up a 15 kilogram bag of pet food and lug the heavy bag home every few weeks is no longer the best option available for pet owners. Pet parents can simplify this process and get the finest food and merchandise delivered to their doorstep by using our service, whilst also paying significantly less,” said Mike Frizell, CEO of Pet Circle.
“The incremental funding, expertise and resources of Francisco Partners and AirTree Ventures will enable us to expand our team, grow faster, innovate and continue to focus on providing an amazing experience to pet parents all over Australia,” continued Frizell. “Pet Circle is all about giving pet parents access to the best products to both nourish and nurture their pets all without the need to leave their home. We are proud that we have simplified the lives of more than 200,000 Australian pet parents that consistently shop with Pet Circle with the knowledge they have access to the best range of products, at the best prices backed by our celebrated customer service.”
The investment from Francisco Partners and return backer AirTree Ventures underscores the success the company has achieved as well as the confidence in the company’s ability to drive further disruption of the traditionally brick and mortar industry. “We are thrilled to partner with Pet Circle and excited to help them to become the trusted pet retailer of choice for pet parents all over Australia,” said Neil Tolaney, Principal and head of consumer internet investing at Francisco Partners. “The customer experience and strong culture that Mike and the Pet Circle team have created reflect well their values as people and pet lovers, and we are excited to help them expand upon their early success.”
Craig Blair, Managing Partner of Airtree Ventures said, “As founding Chairman, I have had the privilege of watching Mike Frizell and James Edwards build an incredible team and culture that is reimaging the pets retail market. Their ability to leverage the best of software and data to create a new shopping experience for our customers is an inspiration to many Australian founders. This growth round is validation of the strength of Pet Circle’s offering and business model. We are proud to be backing the team again and excited to welcome Francisco Partners on board.”
About Pet Circle
Pet Circle was founded in 2011 and headquartered in Sydney. Pet Circle delivers pet food, accessories and more to pet parents all over Australia. Pet Circle has the commitment to help make caring for pets easy. With over 6000 local and global brands on its website, www.petcircle.com.au, pet parents can easily get access to the best products shipped to their door fast and at a significantly less cost.